QuantumScape Corporation (NYSE:QS) Receives Consensus Recommendation of “Reduce” from Brokerages

QuantumScape Corporation (NYSE:QS) has been given an average rating of “Reduce” by the nine brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $5.8833.

Several analysts have issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of QuantumScape in a research report on Wednesday. Robert W. Baird upped their price objective on shares of QuantumScape from $6.00 to $11.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, TD Cowen raised shares of QuantumScape to a “hold” rating in a research note on Monday, July 7th.

Insider Activity

In other news, CTO Timothy Holme sold 176,352 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $7.55, for a total transaction of $1,331,457.60. Following the completion of the transaction, the chief technology officer directly owned 1,445,304 shares of the company’s stock, valued at approximately $10,912,045.20. This represents a 10.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey B. Straubel sold 157,180 shares of the company’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $9.20, for a total transaction of $1,446,056.00. Following the transaction, the director directly owned 348,146 shares of the company’s stock, valued at approximately $3,202,943.20. This trade represents a 31.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,327,870 shares of company stock valued at $26,819,135. 5.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On QuantumScape

A number of institutional investors have recently bought and sold shares of QS. Signaturefd LLC raised its stake in QuantumScape by 2,086.1% in the first quarter. Signaturefd LLC now owns 6,121 shares of the company’s stock worth $25,000 after buying an additional 5,841 shares in the last quarter. Russell Investments Group Ltd. raised its stake in QuantumScape by 685.5% in the second quarter. Russell Investments Group Ltd. now owns 3,794 shares of the company’s stock worth $25,000 after buying an additional 3,311 shares in the last quarter. Federated Hermes Inc. raised its stake in QuantumScape by 660.0% in the first quarter. Federated Hermes Inc. now owns 6,262 shares of the company’s stock worth $26,000 after buying an additional 5,438 shares in the last quarter. Hollencrest Capital Management raised its stake in QuantumScape by 333.3% in the first quarter. Hollencrest Capital Management now owns 6,500 shares of the company’s stock worth $27,000 after buying an additional 5,000 shares in the last quarter. Finally, North Capital Inc. bought a new position in QuantumScape in the second quarter worth about $27,000. 29.87% of the stock is owned by institutional investors.

QuantumScape Stock Performance

NYSE QS opened at $14.70 on Tuesday. The company has a 50-day simple moving average of $10.42 and a two-hundred day simple moving average of $7.32. The company has a quick ratio of 16.40, a current ratio of 16.40 and a debt-to-equity ratio of 0.03. QuantumScape has a 12-month low of $3.40 and a 12-month high of $17.77. The firm has a market cap of $8.32 billion, a price-to-earnings ratio of -17.09 and a beta of 4.85.

QuantumScape (NYSE:QS) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). The business had revenue of $36.67 million for the quarter. During the same period last year, the firm posted ($0.25) EPS. On average, equities analysts forecast that QuantumScape will post -0.82 EPS for the current year.

QuantumScape Company Profile

QuantumScape Corporation, a research and development stage company, focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. The company was founded in 2010 and is headquartered in San Jose, California.